tag:blogger.com,1999:blog-2149523431587168680.post4638199513870701801..comments2015-03-02T12:03:10.480-05:00Comments on Oddball Stocks: Argo, an undervalued asset manager with a potential catalystNate Tobikhttp://www.blogger.com/profile/05660387777171986124noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-2149523431587168680.post-511800193472952692013-01-23T03:50:45.645-05:002013-01-23T03:50:45.645-05:00Don&#39;t forget that ARGO also has 8% of issued s...Don&#39;t forget that ARGO also has 8% of issued share capital alloted as options which are exerciseable 25p.<br /><br />Once 25P gets hit, and management exercise their options, the issued share capital will get diluted by 8%.<br /><br />This however is not bad as the share price will have risen 100% from these levels.<br /><br />I must also add that the options were alloted at 25p when the share price was trading around 15p ( from memory ). So kudos to management for not following the crowd and alloting options at the (then) current share price or lower.Marcel Springorumhttp://www.market-swings.comnoreply@blogger.comtag:blogger.com,1999:blog-2149523431587168680.post-17608096372589567522013-01-21T12:44:43.495-05:002013-01-21T12:44:43.495-05:00Hi Nate,
great blog!
I have the following two qu...Hi Nate,<br /><br />great blog!<br /><br />I have the following two questions regarding Argo.<br />In the H1 report they describe the merger of two smaller funds into the new Argo Special Situations Fund. Additionally, they write that the high-water mark for the new fund was reset to zero.<br />Do I get this right: Does that mean that as soons as the deliver a positive performance the 20% performance fee will become active?<br /><br />Besides that, the fund is an closed-end vehicle with a three year duration (extendable upon request). This means that Argo risks loosing USD 107m or 1/3 of AuM in 2015?<br /><br />Best regardsAnonymousnoreply@blogger.com